Goldman Sachs Group set a $4.10 target price on RPC (NYSE:RES) in a report issued on Friday morning, TipRanks reports. The brokerage currently has a sell rating on the oil and gas company’s stock.
A number of other brokerages have also weighed in on RES. Wells Fargo & Co lowered their target price on RPC from $4.00 to $3.50 and set an underperform rating on the stock in a research report on Thursday. Barclays lowered their target price on RPC from $5.50 to $5.00 and set an underweight rating on the stock in a research report on Monday, September 30th. Gabelli lowered RPC from a buy rating to a hold rating in a research report on Thursday, July 25th. ValuEngine raised RPC from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised RPC from a sell rating to a neutral rating and upped their target price for the stock from $4.80 to $4.90 in a research report on Monday, October 21st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. RPC currently has a consensus rating of Hold and an average price target of $7.89.
RES traded down $0.31 during trading on Friday, hitting $4.50. The company’s stock had a trading volume of 3,128,911 shares, compared to its average volume of 2,250,483. RPC has a twelve month low of $4.32 and a twelve month high of $15.26. The company has a quick ratio of 2.45, a current ratio of 3.53 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $5.27 and its 200-day moving average price is $7.20. The firm has a market capitalization of $997.79 million, a P/E ratio of 5.49 and a beta of 1.09.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). RPC had a negative net margin of 3.70% and a positive return on equity of 0.09%. The business had revenue of $293.20 million during the quarter, compared to analyst estimates of $336.48 million. During the same period last year, the firm posted $0.23 earnings per share. RPC’s quarterly revenue was down 33.4% compared to the same quarter last year. Equities research analysts expect that RPC will post -0.07 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. CoreCommodity Management LLC grew its holdings in RPC by 87.6% during the second quarter. CoreCommodity Management LLC now owns 208,310 shares of the oil and gas company’s stock worth $1,502,000 after buying an additional 97,285 shares in the last quarter. Morgan Stanley grew its holdings in RPC by 122.9% during the second quarter. Morgan Stanley now owns 904,096 shares of the oil and gas company’s stock worth $6,519,000 after buying an additional 498,480 shares in the last quarter. Morgan Dempsey Capital Management LLC grew its holdings in RPC by 18.5% during the second quarter. Morgan Dempsey Capital Management LLC now owns 151,979 shares of the oil and gas company’s stock worth $1,096,000 after buying an additional 23,730 shares in the last quarter. Van ECK Associates Corp grew its holdings in RPC by 53.3% during the second quarter. Van ECK Associates Corp now owns 2,256,464 shares of the oil and gas company’s stock worth $16,269,000 after buying an additional 784,479 shares in the last quarter. Finally, Swiss National Bank grew its holdings in RPC by 2.0% during the second quarter. Swiss National Bank now owns 119,900 shares of the oil and gas company’s stock worth $864,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 33.81% of the company’s stock.
RPC, Inc, through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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